Primary Ledger , Secondary Ledger, Reporting Currency
Primary Ledger is a key configuration in any oracle implementation. This setup is
required to do any Journal entries / Transactions in Oracle
This is where we will be
selection 4c’s
- Companies accounting structure (chart of accounts)
- Accounting calender
- Functional currency
- Accounting method
along with other optional
features like translation, inter-company journals , reversing criteria etc
Secondary Ledger is a optional feature . Secondary Ledger is not a actual transaction
ledger, this is used to capture the Journal entries/ transactions that were
entered in Primary ledger
Secondary ledger can have all
the 4’c different from your primary Ledger. This makes it easy to maintain
balances as required by in country accounting and also in international
financial standard
Reporting Currency is an optional feature. This will allow having balances or transactions
in a currency that is different from your Functional currency .
This helps companies to
maintain balances in different currency . This is similar to MRC feature in Oracle
11i
